BEAM – Japan’s Suntory to Buy Jim Beam Parent in $16B Deal

It gives Suntory a big slice of U.S. market share

A Japanese liquor company says it will purchase Illinois-based Beam (BEAM), sending BEAM stock soaring more than 24% in Monday morning trading.

Under the deal, valued at $16 billion, closely-held Suntory Holdings will pay $83.50 a share for BEAM stock, a 25% premium over the last closing price for BEAM shares. The combination of Suntory and Beam will form the third-largest high-end liquor company in the world, Bloomberg notes.